If you are thinking for an indubitable way to have reduced auto insurance premium, congratulations you will find the one here. Now it is possible to pay as you drive. Isn’t it unfair to pay an extra premium when you are not even regularly using your vehicle or you are a safe driver while on road? Since the topmost risk indicator for insurance is how often one is on the road, or how aggressively one drives.
Now you can control the amount of premium you pay by using usage-based insurance (UBI). This insurance is a bit different from the traditional automotive insurance. Usage-based insurance is also known as pay-as-you-drive (PAYD) insurance, in which premiums can be calculated by using actual driving data of each driver. The data used by UBI for calculating the premium is the driving behavior (rate of acceleration, deceleration, and lateral acceleration while turning), the speed, time, and miles the vehicle is driven. The drivers exhibiting the safe driving behavior are eligible for premium discounts.
According to an estimate, almost 64% of the drivers pay high premiums to compensate for the highest mileage-driving minority in traditional auto insurance. It is expected that by 2020, one-third of auto insurance carriers will be using telematics-based UBI.
Usage-based insurance (UBI) can work by the installation of a special device capable of transmitting the data from the vehicle via OBD-II port. After the plug-in of the telematics sensor, your vehicle data starts transmitting, and drivers are being scored. The driver score can be monitored under Driver Scorecard manual by using Eagle-I dashboard. While using UBI, customers are provided with Eagle-I’s tracking mobile app. This app allows you to access the following data about your vehicle:
- Real-time vehicle monitoring
- Driver behavior indicators (harsh braking, harsh acceleration, hash turning, speeding) of the trip
- Driver Scorecard (ratings, score)
- Trip replay capability
- In case of malfunctioning of the vehicle, notification will be issued.
Want to learn more about Eagle-I?
Please call Mr. Jamal +966 56 638 7859 or write to us at firstname.lastname@example.org